Baxter International (NYSE:BAX) Stock Rating Upgraded by Citigroup

Key Points

• Citigroup upgraded Baxter International from “sell” to “neutral” and raised its price target from $17 to $28, implying roughly 5% upside from the prior close.
• Baxter’s latest quarter beat expectations, with EPS of $0.56 versus approximately $0.37 expected and revenue of $2.96 billion, up 5.3% year over year. The company set 2026 adjusted EPS guidance at $1.95–$2.15.
• Analyst sentiment remains mixed: MarketBeat lists an average “Reduce” rating and $22.09 target price, while profitability concerns—including lower year-over-year EPS and margin pressure from tariffs, inflation and manufacturing costs—remain.

Baxter International (NYSE:BAX - Get Free Report) was upgraded by Citigroup from a "sell" rating to a "neutral" rating in a research report issued on Friday,Benzinga reports. The firm currently has a $28.00 price target on the medical instruments supplier's stock, up from their prior price target of $17.00. Citigroup's price target indicates a potential upside of 5.06% from the stock's previous close.

Several other brokerages also recently commented on BAX. TD Cowen raised their price objective on Baxter International from $20.00 to $24.00 and gave the stock a "hold" rating in a research note on Monday. Weiss Ratings upgraded Baxter International from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, July 15th. The Goldman Sachs Group lifted their price objective on shares of Baxter International from $19.00 to $21.00 and gave the company a "neutral" rating in a report on Wednesday, July 15th. Evercore dropped their target price on Baxter International from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 6th. Finally, Zacks Research downgraded shares of Baxter International from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Baxter International has an average rating of "Reduce" and an average target price of $22.09.

Baxter International Stock Performance

Shares of NYSE:BAX opened at $26.65 on Friday. The firm's 50 day simple moving average is $21.20 and its 200 day simple moving average is $19.56. Baxter International has a fifty-two week low of $15.73 and a fifty-two week high of $30.00. The company has a market capitalization of $13.76 billion, a price-to-earnings ratio of -12.51, a P/E/G ratio of 4.00 and a beta of 0.62. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.85 and a quick ratio of 1.23.

Baxter International (NYSE:BAX - Get Free Report) last issued its earnings results on Thursday, July 30th. The medical instruments supplier reported $0.56 EPS for the quarter, beating the consensus estimate of $0.37 by $0.19. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $2.80 billion. Baxter International had a negative net margin of 9.70% and a positive return on equity of 16.15%. The business's quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Baxter International has set its FY 2026 guidance at 1.950-2.150 EPS. As a group, sell-side analysts forecast that Baxter International will post 1.91 earnings per share for the current year.

Hedge Funds Weigh In On Baxter International

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of Baxter International by 7.8% during the 4th quarter. Geode Capital Management LLC now owns 13,510,205 shares of the medical instruments supplier's stock worth $257,174,000 after buying an additional 972,891 shares during the last quarter. Fiduciary Alliance LLC grew its stake in Baxter International by 95.6% in the 1st quarter. Fiduciary Alliance LLC now owns 258,062 shares of the medical instruments supplier's stock valued at $4,542,000 after buying an additional 126,104 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its stake in Baxter International by 12.0% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 3,328,202 shares of the medical instruments supplier's stock valued at $63,602,000 after buying an additional 356,612 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in Baxter International by 9.9% in the 4th quarter. Gamco Investors INC. ET AL now owns 391,250 shares of the medical instruments supplier's stock valued at $7,477,000 after acquiring an additional 35,300 shares during the period. Finally, Versant Capital Management Inc lifted its position in Baxter International by 552.2% during the second quarter. Versant Capital Management Inc now owns 2,413 shares of the medical instruments supplier's stock worth $51,000 after acquiring an additional 2,043 shares during the last quarter. 90.19% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Baxter International

Here are the key news stories impacting Baxter International this week:

• Positive Sentiment: Q2 results beat expectations: Adjusted earnings were $0.56 per share versus consensus of approximately $0.36–$0.37, while revenue reached $2.96 billion, ahead of estimates near $2.80 billion and up 5.3% year over year. Baxter Reports Second-Quarter 2026 Results
• Positive Sentiment: Full-year guidance was raised: Baxter now expects 2026 adjusted EPS of $1.95–$2.15, above the prior outlook and roughly ahead of the $1.92 analyst consensus. Revenue guidance of $11.6–$11.7 billion also exceeds expectations of about $11.4 billion. Baxter raises annual profit forecast on strong demand for IV solutions
• Positive Sentiment: Demand and one-time benefits supported performance: Strong sales of IV solutions and drug-compounding products helped drive broad-based segment growth. Management also cited an unanticipated tariff refund as an additional benefit to quarterly results. Baxter raises annual profit forecast on strength in drug compounding business
• Neutral Sentiment: Analyst sentiment is mixed: UBS raised its price target to $25 and Stifel raised its target to $24 while maintaining a Hold rating. Reported recent targets have a median of $20.50, below the current trading level, suggesting expectations may already reflect much of the earnings improvement.
• Negative Sentiment: Profitability remains a concern: Earnings declined from $0.59 per share a year earlier, and analysts noted contracting margins amid tariffs, inflation and manufacturing costs. Investors may also monitor a reported recall involving a widely used antibiotic solution for potential operational or reputational effects. BAX Stock Gains on Q2 Earnings and Sales Beat, Margins Contract

Baxter International Company Profile

Baxter International Inc is a global healthcare company that develops, manufactures and markets a broad portfolio of medical products, pharmaceutical therapies and biotechnology-based solutions. The company's primary business activities are organized around renal care, medication delivery, acute therapies, pharmacy automation, surgical care and biotechnology. Baxter's offerings are designed to support patient care in hospitals, dialysis centers, nursing homes and other healthcare facilities worldwide.

In the renal care segment, Baxter provides hemodialysis and peritoneal dialysis systems, water treatment equipment and related disposables, including dialyzers, bloodlines and catheters.

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